1. Chiquita! The Story of A company in transformation!

2. Table of Contents

Introducing Chiquita

The Challenge

A new vision and Strategy

Strategy into practice!

The Results!

3. A Company with a long history

United Fruits created in 1899

Chiquita Brand created in 1944 in US and launched in 1966 in Europe

1870 First Sales of bananas in Jersey City by Captain BakerRevolutionized transportation of by using refrigerated vessel 1903 1944 Introduced the name Chiquita and the Miss Chiquita character Began shipping pre-cut hands of bananas in cardboard boxes 1961 1961 Record campaign This seal outside means the best inside First Chiquita farms certified by the Rainforest Alliance's 1994 100% of owned farms in Latin America certified to SA8000 2004 SA8000 4. Chiquita has a very strong brand equity in tune with modern trends! Freshness High Quality Brand I Trust Healthy All-Family & Kids Taste Vibrant & Energetic Natural 5. Chiquita Brand: The No.1 Banana Brand in Europe with extremely high TOM awareness in key markets 6. Table of Contents

Introducing Chiquita

The Challenge

A new vision and Strategy

Strategy into practice!

The Results!

7. Chiquita anno 2005, when I joined!

Recently left Chapter 11 after huge restructuring and asset sales in 2004

Highly depending on bananas > volatile earnings (demand and supply) and decreasing returns due to commoditization

In Europe change of tariff regime in 2006 > serious impact on EBIT

A RADICAL CHANGE IS NEEDED

8. Companys Mission

To transform the Company and diversify into higher margin value added consumer products.

Leverage the brand, build new capabilities and develop new businesses (organically or via acquisition)

Become the World Leader in branded healthy fresh foods!

9. But . We lack the platform!

In Europe 1bn$ sales (95% bananas) very lean sales and Trading organization

Supply Commodity Driven culture , No Consumer Innovation culture

Limited capability in:

• innovation and R&D

• Consumer marketing

• Category management

• Channel management

This is not about launching new products but creating a new company and culture with focus on the consumer!

10. How to get out of the box and rethink our business?

What better place than to start with the consumer!

Change the view on how we look at the business!

Which business are we in? Are we a banana company?

What is consumer need we are trying to satisfy?

11. Table of Contents

Introducing Chiquita

The Challenge

A new vision and Strategy

Strategy into practice!

The Results!

12. Health Consciousness is on the rise and many government initiatives to promote healthier eating (more F&V). Source: Datamonitor Consumer Survey, June 2006 13. The Consumer Paradox:Fruit consumption is not increasing in Europe. Apples & Pears Bananas Citrus Fruit Dates, figs, Exotics Melons & Papayas Other Fruits Stone Fruit Table Grapes 200220032004200520062007 14. What is driving consumption?

Fruit is A SNACK

60% of fruitss are consumed as a mid-morning, afternoon or evening snack

>> COMPETE WITH OTHER SNACKS & DRINKS

15. We are competing in the world of healthy snacking and fruit is not winning the game!!Fruit is commodity and not as convenient, innovative than other snacking products. 16. TheChiquita OpportunityMake Fresh Fruit an innovative, healthy and convenient snack offering

Make fruitWANT TOnotHAVE TO .

Seducethe consumer both in product, packaging and merchandising:

• Visualandsensoryseduction

• Simplicityand Naturally Healthy

• Freshness

• Convenience

17. Rethink Our business! Fresh Fruits Healthy Fresh Beveragesand Snacks Grocery Retail New Channels Commodity Added ValueInnovation Taste, Nutrition, Convenience Reposition Chiquita as a Healthy Snacking and Beverage Company to Promote Fruit Consumption addressing current consumer needs and behavior 18. Our MissionMake the world love fruit

Chiquita aims to beEuropes No.1 Branded Healthy Fresh Beverage and Snacking Company.

By offering naturally nutritious and convenient products,so consumers canenjoy more fruit whenever and wherever. 19. New Brand Positioning BRAND ESSENCE Natural Vitality 20. Deliver our promise Freshness You Can Taste Sustainability Natural Nutrition Convenience & Availability 21. Where to Play! Fruit as A Drink Fruit as a Snack on the go Fruit as Dessert Fruit as Breakfast 22. Table of Contents

Introducing Chiquita

The Challenge

A new vision and Strategy

Strategy into practice!

The Results!

23. Chiquita Initiatives 2005 2006 2007 2008 2009 24. Celebrating our Rainforest Alliance Partnership

Partnership with RFA since 1992 world leading NGO in sustainable agriculture

>90% of all bananas certified

Introduction of RFA Seal on Chiquita bananas in 2005 celebrating our achievement.

Major campaign in 9 countries supported by heavy advertising: PR, print, poster and TV.

25. Chiquita Just Fruit in A Bottle

100% natural high quality fresh smoothies (no additives, no colorants and no concentrates)

Retail and on the go locations.

Launched in 10 countries.

Chiquita smoothies is the N1 or 2 brand in all countries we are present (in Belgium >50% maketshare).

26. The Chiquita Fruit Bar High Street Format:Berlin High Street Kiosk Format: Dusseldorf Airport

Freshly made for you using only the best Chiquita quality fruits, with no sugar and no preservatives

Be the Starbucks of fruit

High traffic locations in city centre's

Launched in 3 countries: B, G, CH. 15-20 outlets by end of this year.

27. Chiquita To Go Banana

A ready to eat single serve Chiquita banana (with bar code)

Unique stay-fresh technology, extended shelf-life.

Reposition Chiquita as a Natural energy Snack on the go.

Where: petrol, kiosks, C-stores, Workplace Catering.

Launched in 4 countries.

28. Chiquita - Just Fresh Fruit - salads

Chiquita single serve fresh fruit salad/stick.

Offer a Healthy Fruit dessert/snack targetting kids happy meal occasion.

25% of happy meal dessert sales > +20% growth

Chiquita became preferred partner for McDonalds Europe for fresh fruit concepts.

Launched in B and Nl.

29. Chiquita Just Fresh Fruit Breakfast Buffet

Fresh cut fruit mixes as healthy breakfast complement.

Hotels, workplace catering and commercial restaurants serving breakfast.

Branded breakfast buffet concept.

Launched in B and Nl.

30. Chiquita Superfruit Smoothies

100% natural superfruit smoothies no additives

Smoothies with functional consumer benefit Natural Defence

Supported by AOX and Vit C ingredient claims.

Launched in 4 countries supported by PR, Print, TV and heavy sampling.

31. Table of Contents

Introducing Chiquita

The Challenge

A new vision and Strategy

Strategy into practice!

The Results!

32. More than a vision, the Transformation works.

New business (smoothies and salads) represents 30 mio euro turnover after 3 years, growing double digit YOY with gross margin 2x banana business.

In belgium (first launch country 2006), new business represents 15% of total turnover and 25% of GM.

Chiquita recruited over >60 new positions in marketing, R&D, sales, supply chain to support innovation.

Chiquita europe is global innovation centre for Healthy beverages.

Most importantly Chiquita has been put on the map and is now seen as dynamic, innovative company in the world of fruits.with high appeal to attract new talent.